Beware of Scams This Spring

This Spring, We are seeing a surge in scams and we’re here to help.

What is a grandparent scam?
In a typical grandparent scam, fraudsters exploit the trust and love between grandparents and their grandchildren. They often pose as a grandchild or other family member in distress, claiming to be stranded in a foreign location or facing legal troubles. In some scenarios, the fraudster will pose as a third party attempting to help their grandchild get out of a sticky situation. The scammer then urgently requests money to resolve the supposed emergency, often insisting that the situation be kept secret.

Red Flags to Watch For
• Urgency of Request: Scammers often create a sense of urgency to pressure victims into acting hastily.
• Secrecy: The individual requests that information about the wire transfer be kept confidential.
• Unknown Requestor: Receiving a call from someone you don’t know, prompting you to send money.

By staying informed and vigilant, we can all work together to thwart these deceitful schemes and safeguard our credit union community.